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The advantages of a living trust

No one wants to think about what will happen when he or she passes on. However, many of our Michigan readers realize that this is something they have to do if they want to guarantee the future well-being of their family.

When it comes to the estate planning process, it is important to consider all aspects, including a living trust. There are many advantages to creating one of these documents, all of which should be considered when trying to put together an ironclad estate plan.

For those who want to ensure privacy after their death, a living trust is the way to go. Not only does this help avoid probate, but it goes a long way in making sure that information regarding what you leave behind does not become public knowledge.

With the ability to bypass probate, your assets will make it to your heirs immediately. This makes things easier on your loved ones upon your death, as they do not have to wait around before taking care of this task.

There are also ways that a living trust can be advantageous while you are alive, such as by acting in the same manner as a power of attorney.

During the estate planning process, it is a must to consider each and every document that can be created. This will allow you to feel better about your current situation and also know that everything will be in order upon your death. With a living trust, you are doing what is best for both you and your family.

Source: Noozhawk, "Is a Living Trust Right for Me?" Lindsay Leonard Dorner, Apr. 04, 2014

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